BOSTON & AUSTIN, Texas–(BUSINESS WIRE)–Salary Finance, the leading global provider of financial education and salary-linked benefits for employees, announced today that it has partnered with Trusted Capital Group (TCG), a provider of investment and retirement planning solutions, to deliver access to affordable credit to TCG’s employees. Salary Finance is a free benefit available to the company’s more than 100 employees, providing access to loans that can help employees pay off debt or cover unexpected expenses at a lower cost than traditional lenders.
Access to affordable credit is an area of need for U.S. workers, one that is only increasing due to the economic instability brought on by the COVID-19 pandemic. A Salary Finance survey of U.S. workers conducted in December 2019 found that access to affordable credit is one of the most desired benefits not currently being offered by companies. A June survey by the salary-linked benefits provider found that nearly two-thirds of American workers are dealing with financial stress, which has a significant effect on physical and mental health.
“What’s good for our customers is also good for us,” said John Pesce, CEO and co-founder, TCG. “We partnered with Salary Finance last spring to bring its salary-linked loans to our clients in the education sector and have launched programs with nearly 200 campuses to date, making Salary Finance salary-linked benefits available to over 20,000 employees. We have now implemented those same benefits here at TCG. U.S. workers are dealing with more financial strain than any other time in modern history. It is the responsibility of employers to support their workers during this time of need and ensure they have the resources at their disposal to eliminate debt and have affordable access to credit if anything unforeseen happens.”
TCG is an established leader in providing financial and retirement solutions to school districts nationally, as well as other governmental and private sector employers. The company manages more than $3.5 billion in assets and serves over 750,000 individuals across hundreds of plans in the education, local government, and small-to-medium business segments.
Given the high percentage of financial stress in the workforce, a tremendous opportunity exists for employers: not only is employee trust in employers high, but salary-linked loans are one of the most desired benefits not currently being offered by most companies.
“I applaud the TCG leaders for recognizing the financial needs of their employees and for championing a corporate culture where conversations about money and finances can be conducted without judgement,” Anita Ward, Chief Development Officer, Salary Finance, said. “By providing financial wellbeing tools and affordable access to credit, TCG has given its employees a financial safety net at a time when many uncertainties surround financial health. As our partner, and our client, TCG continues to raise the bar and set an example as empathetic leaders with a conscience and a heart.”
About Salary Finance
Founded in 2015, Salary Finance is an award-winning organization that partners with employers to offer financial wellness solutions that help employees improve their lives by improving their finances. A company underpinned by a social purpose, we’re driven by an ambitious mission in the US: to help 10 million Americans out of debt and into savings. Salary Finance is a United Way Worldwide corporate partner and works with over 500 of the world’s leading employers. To learn more, please visit www.salaryfinance.com/us. Salary Finance branded loans are offered by Axos Bank®, Member FDIC.
About Trusted Capital Group (TCG)
Trusted Capital Group (TCG), previously TCG Group Holdings, LLP, delivers investment and retirement planning solutions that provide peace of mind and lead clients to financial success. Services provided by the company’s affiliates are focused on overall financial wellbeing and include institutional and individual financial planning, retirement plan administration, portfolio and investment advising, identity protection, deferred compensation, and executive compensation consulting. other services. For more information on TCG please visit www.tcgservices.com.